6-K
CORPORACION AMERICA AIRPORTS S.A. (CAAP)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20546
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2023
Commission File Number: 333-221916
Corporación América Airports S.A.
(Name of Registrant)
128, Boulevard de la Pétrusse
L-2330 Luxembourg
Tel: +35226258274
\(Address of Principal Executive Office\)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: October 18, 2023 | |
|---|---|
| Corporación America Airports S.A. | |
| By: /s/ Andres Zenarruza | |
| Name: Andres Zenarruza | |
| Title: Head of Legal & Compliance | |
| By: /s/ Jorge Arruda | |
| Name: Jorge Arruda | |
| Title: Chief Financial Officer |
Exhibit Index
| Exhibit No. | Description |
|---|---|
| 99.1 | Press release dated October 18, 2023 - Corporación América Airports S.A. Reports September 2023 Passenger Traffic. |
Exhibit 99.1
Corporación América Airports S.A. Reports September 2023 Passenger Traffic
Total passenger traffic up 15.7% YoY reaching 99% of pre-pandemic levels
Armenia, Ecuador, Argentina and Italy above September 2019 levels
Aircraft movements 1.3% above September 2019
LUXEMBOURG--(BUSINESS WIRE)--October 18, 2023--Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”), one of the leading private airport operators in the world, reported today a 15.7% year-on-year (YoY) increase in passenger traffic in September 2023, reaching 98.9% of September 2019 levels.
| Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2023 vs. 2022) | ||||||
|---|---|---|---|---|---|---|
| Statistics | Sep'23 | Sep'22 | % Var. | YTD’23 | YTD'22 | % Var. |
| Domestic Passengers (thousands) | 3,844 | 3,226 | 19.2% | 33,856 | 27,465 | 23.3% |
| International Passengers (thousands) | 2,612 | 2,180 | 19.8% | 21,273 | 15,347 | 38.6% |
| Transit Passengers (thousands) | 585 | 680 | -14.0% | 5,298 | 4,445 | 19.2% |
| Total Passengers (thousands) | 7,042 | 6,085 | 15.7% | 60,426 | 47,257 | 27.9% |
| Cargo Volume (thousand tons) | 30.9 | 29.0 | 6.7% | 268.6 | 250.6 | 7.2% |
| Total Aircraft Movements (thousands) | 71.9 | 65.2 | 10.3% | 639.9 | 537.8 | 19.0% |
| Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2023 vs. 2019) | ||||||
| Statistics | Sep'23 | Sep'19 | % Var. | YTD’23 | YTD'19^(1)(2)^ | % Var. |
| Domestic Passengers (thousands) | 3,844 | 3,979 | -3.4% | 33,856 | 35,463 | -4.5% |
| International Passengers (thousands) | 2,612 | 2,490 | 4.9% | 21,273 | 21,590 | -1.5% |
| Transit Passengers (thousands) | 585 | 652 | -10.3% | 5,298 | 6,198 | -14.5% |
| Total Passengers (thousands) | 7,042 | 7,122 | -1.1% | 60,426 | 63,251 | -4.5% |
| Cargo Volume (thousand tons) | 30.9 | 31.9 | -3.0% | 268.6 | 310.1 | -13.4% |
| Total Aircraft Movements (thousands) | 71.9 | 71.0 | 1.3% | 639.9 | 645.3 | -0.8% |
| (1) | Note that preliminary passenger traffic figures for 2019, as well as January 2020 for Ezeiza Airport, in Argentina, were adjusted to include additional inbound passengers not accounted for<br> in the initial count, for an average of approximately 5% of total passenger traffic at Ezeiza Airport and 1% of total traffic at CAAP, during that period. Importantly, inbound traffic does not affect revenues, as tariffs are applicable<br> on departure passengers. | |||||
| --- | --- | |||||
| (2) | Cargo volumes in Uruguay were rectified from January 2019 to June 2020, to reflect all cargo passing through the cargo terminal, instead of air cargo only. |
Passenger Traffic Overview
Total passenger traffic grew 15.7% compared to the same month of 2022, supported by the ongoing recovery in travel demand after the Covid-19 pandemic and the gradual resumption of routes and frequencies across all countries of operations. Overall passenger traffic reached 98.9% of September 2019 levels, substantially in line with the 98.7% posted in August, with international passenger traffic surpassing pre-pandemic levels of September 2019 by 4.9%. Domestic traffic stood at 96.6% of September 2019, in line with 96.3% in August.
In Argentina, total passenger traffic continued to recover in September, increasing by 20.4% year-over-year (YoY) and surpassing pre-pandemic volumes by 2.1%. Domestic traffic was 7.5% higher than the levels in September 2019, while international passenger traffic also continued to recover, reaching 90.7% of pre-pandemic levels, up from the 87.0% recorded in August.
In Italy, passenger traffic grew by 18.2% compared to the same month in 2022 and surpassed pre-pandemic levels for the third consecutive month, increasing by 1.6% compared to September 2019, down from the 4.1% recorded in August when traffic benefited from the summer season. International passenger traffic, which accounted for 80% of the total traffic, was in line with September 2019 levels, while domestic passenger traffic surpassed pre-pandemic levels by 7.8%. Although some pre-pandemic destinations still need to resume at Pisa airport, Florence airport has already exceeded 2019 levels and was 10.4% above September 2019 traffic volumes.
In Brazil, total passenger traffic decreased slightly by 0.1% YoY, reaching 92.9% of September 2019 levels. This decline is down from the 101.4% recorded in August. Domestic traffic, which accounted for almost two-thirds of the total traffic, reached 95.6% of pre-pandemic levels, while transit passengers stood at 87.5% of September 2019 levels, a slight decrease from the 88.9% recorded in August.
In Uruguay, total passenger traffic, which is largely international, continued to recover and increased 31.3% YoY, reaching 94.5% of September 2019 levels, up from 91.3% recorded in August.
In Ecuador, passenger traffic increased 5.7% YoY and surpassed pre-pandemic volumes by 20.8%. Both domestic and international passenger traffic exceeded pre-pandemic levels by 25.7% and 15.7%, respectively. The comparison with pre-pandemic benefited from the airport’s closure during three weekends of September 2019.
In Armenia, passenger traffic continued its solid recovery trend, increasing by 34.2% YoY and surpassing the pre-pandemic levels of September 2019 by 62.7%.
Cargo Volume and Aircraft Movements
Cargo volume increased 6.7% YoY and improved to 97.0% of September 2019 levels, or 98.3% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia, Ecuador and Uruguay were above pre-pandemic levels, whereas Italy stood at 79.8%, Argentina at 89.7% and Brazil at 92.9%. Almost 70% of cargo volume originated in Argentina, Ecuador and Uruguay.
Aircraft movements increased 10.3% YoY and surpassed September 2019 levels by 1.3%, or 5.5% when adjusting for the discontinuation of operations in Peru. All the countries of operations, except Brazil, exceeded September 2019 pre-pandemic levels.
| Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2023 vs. 2022) | ||||||
|---|---|---|---|---|---|---|
| Sep'23 | Sep'22 | % Var. | YTD'23 | YTD'22 | % Var. | |
| Passenger Traffic (thousands) | ||||||
| Argentina^(1)^ | 3,684 | 3,060 | 20.4% | 32,010 | 23,949 | 33.7% |
| Italy | 876 | 741 | 18.2% | 6,368 | 5,151 | 23.6% |
| Brazil | 1,378 | 1,380 | -0.1% | 12,770 | 11,403 | 12.0% |
| Uruguay | 165 | 126 | 31.3% | 1,418 | 1,006 | 41.0% |
| Ecuador | 398 | 376 | 5.7% | 3,673 | 3,116 | 17.9% |
| Armenia | 540 | 403 | 34.2% | 4,187 | 2,632 | 59.1% |
| TOTAL | 7,042 | 6,085 | 15.7% | 60,426 | 47,257 | 27.9% |
| (1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table. | ||||||
| Cargo Volume (tons) | ||||||
| --- | --- | --- | --- | --- | --- | --- |
| Argentina | 16,078 | 15,056 | 6.8% | 138,565 | 134,716 | 2.9% |
| Italy | 856 | 1,299 | -34.1% | 9,479 | 11,091 | -14.5% |
| Brazil | 5,443 | 5,651 | -3.7% | 48,430 | 41,231 | 17.5% |
| Uruguay^(2)^ | 2,413 | 2,248 | 7.3% | 23,343 | 24,198 | -3.5% |
| Ecuador | 2,591 | 2,532 | 2.3% | 24,331 | 25,227 | -3.6% |
| Armenia | 3,526 | 2,186 | 61.3% | 24,475 | 14,181 | 72.6% |
| TOTAL | 30,907 | 28,972 | 6.7% | 268,623 | 250,644 | 7.2% |
| Aircraft Movements | ||||||
| Argentina | 38,091 | 33,419 | 14.0% | 343,034 | 276,659 | 24.0% |
| Italy | 7,965 | 7,300 | 9.1% | 60,452 | 53,492 | 13.0% |
| Brazil | 12,860 | 12,333 | 4.3% | 119,404 | 105,440 | 13.2% |
| Uruguay | 2,148 | 2,014 | 6.7% | 23,143 | 19,539 | 18.4% |
| Ecuador | 6,581 | 6,424 | 2.4% | 59,688 | 57,545 | 3.7% |
| Armenia | 4,272 | 3,705 | 15.3% | 34,220 | 25,121 | 36.2% |
| TOTAL | 71,917 | 65,195 | 10.3% | 639,941 | 537,796 | 19.0% |
| Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2023 vs. 2019) | ||||||
|---|---|---|---|---|---|---|
| Sep'23 | Sep'19 | % Var. | YTD'23 | YTD'19 | % Var. | |
| Passenger Traffic (thousands) | ||||||
| Argentina^(1)^ | 3,684 | 3,608 | 2.1% | 32,010 | 32,759 | -2.3% |
| Italy | 876 | 862 | 1.6% | 6,368 | 6,431 | -1.0% |
| Brazil | 1,378 | 1,483 | -7.1% | 12,770 | 13,947 | -8.4% |
| Uruguay | 165 | 175 | -5.5% | 1,418 | 1,665 | -14.8% |
| Ecuador | 398 | 329 | 20.8% | 3,673 | 3,382 | 8.6% |
| Armenia | 540 | 332 | 62.7% | 4,187 | 2,424 | 72.7% |
| Peru | 332 | - | - | 2,642 | - | |
| TOTAL | 7,042 | 7,122 | -1.1% | 60,426 | 63,251 | -4.5% |
| (1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table. | ||||||
| Cargo Volume (tons) | ||||||
| --- | --- | --- | --- | --- | --- | --- |
| Argentina | 16,078 | 17,932 | -10.3% | 138,565 | 164,377 | -15.7% |
| Italy | 856 | 1,072 | -20.2% | 9,479 | 9,567 | -0.9% |
| Brazil | 5,443 | 5,857 | -7.1% | 48,430 | 68,362 | -29.2% |
| Uruguay^(2)^ | 2,413 | 2,167 | 11.4% | 23,343 | 20,983 | 11.2% |
| Ecuador | 2,591 | 2,316 | 11.9% | 24,331 | 29,360 | -17.1% |
| Armenia | 3,526 | 2,091 | 68.6% | 24,475 | 13,697 | 78.7% |
| Peru | - | 431 | - | - | 3,771 | - |
| TOTAL | 30,907 | 31,866 | -3.0% | 268,623 | 310,116 | -13.4% |
| Aircraft Movements | ||||||
| Argentina | 38,091 | 36,327 | 4.9% | 343,034 | 338,064 | 1.5% |
| Italy | 7,965 | 7,931 | 0.4% | 60,452 | 61,514 | -1.7% |
| Brazil | 12,860 | 13,235 | -2.8% | 119,404 | 119,289 | 0.1% |
| Uruguay | 2,148 | 2,054 | 4.6% | 23,143 | 22,125 | 4.6% |
| Ecuador | 6,581 | 5,856 | 12.4% | 59,688 | 60,958 | -2.1% |
| Armenia | 4,272 | 2,788 | 53.2% | 34,220 | 20,424 | 67.5% |
| Peru | - | 2,772 | - | - | 22,937 | - |
| TOTAL | 71,917 | 70,963 | 1.3% | 639,941 | 645,311 | -0.8% |
About Corporación América Airports
Corporación América Airports acquires, develops and operates airport concessions. Currently, the Company operates 53 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2022, Corporación América Airports served 65.6 million passengers, 83.7% above the 35.7 million passengers served in 2021 and 22.1% below the 84.2 million served in 2019. The Company is listed on the New York Stock Exchange where it trades under the ticker “CAAP”. For more information, visit http://investors.corporacionamericaairports.com.
Contacts
Investor Relations Contact
Patricio Iñaki Esnaola
Email: patricio.esnaola@caairports.com
Phone: +5411 4899-6716